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CAN WE NOT GET A LITTLE LOVE GOING?
Posted by Naples International Group on Wednesday, September 24th, 2008 at 5:08pm.
While driving around Naples today trying to get real estate done, I tried to listen to as much of the live hearings discussion about the Government bailout proposal as I could on MSNBC radio. My main interest was in listening to the remarks of Treasury Secretary, Henry Paulson and Federal Reserve Chairman Ben Bernanke while they were grilled by the committee.
While both sides of the aisle claim to be non-partisan and talk about the good of the people, I came away totally confused from listening to the statements and questions from the committee, while trying to evaluate what is on the table and more importantly what the outcome will be for the real estate climate. Everyone agrees that action is needed immediately and that it has to be addressed without delay. But always with regard to American politics, since it is a contact sport you get two diametrically opposed opinions and if you are trying to make sense of it all, it can be damn difficult.
All I know is that the financial plumbing is plugged and it needs some Drano. My only hope is that they can all get on the same page quickly and resolve the crisis, because if they don’t, who knows what the future of the real estate market will be.
V.K. [Mel] Melhado PA
Downing-Frye Realty, Inc.
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